电网公司应对平衡帐户波动风险的分析

Response of grid enterprises to risk of balancing accounts

华东电力市场设立平衡帐户规避市场风险,指出各方对平衡帐户的资金来源存在分歧。通过分析国内电力行业的现状,揭示了电源电网建设投资失衡的深层次原因,理论研究和实证分析都表明:电网企业既不应该承担、也无力承担平衡帐户的波动风险。辅以2001年美国加州电力市场危机中电网公司亏损130亿美元濒临破产为例证,在此基础上,结合华东电力市场差价合约结算模式,同时给出平衡帐户设计思路和平衡帐户结算公式,并采用华东电力市场2004年竞价数据进行了实例分析。

In order to avoid market risks, the East China Power Market set the balance account. The divarications among different parties about the capital source of the balancing account are pointed out, and the deep reasons for the unbalanced investment of power source and grid construction are explored based on analysis of current situation of the electric power industry. Both the theoretical study and practice show that grid enterprises should not and are not capable of bearing the fluctuation risk of the balancing account. Considering the huge loss suffered by the American grid enterprisis in 2001 California power market crisis, and based on the settlement modes of the contract of difference in the East China Power Market, the design concept and settlement formula of the balance account are given, and the price bidding data of the Market in 2004 are used for example analysis.